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Merchant Account for MSB (Money Services Business)

MagicPay Merchant Services provides payment processing services for Money Service Businesses, including Debit Card Processing (PIN Debit), ACH and E-Commerce Payments Acceptance.

MSB Merchant Services

Finding a reliable and affordable payment processor for an MSB is a difficult task. Most merchant processors avoid the Money Service Business industry due to increased regulations and strict compliance requirements.

MagicPay is an industry leader MSB merchant processor, providing borderless payments tehcnology catered to Money Service Businesses. As a full service provider, MagicPay offers debit card processing, ACH processing, Retail & E-Commerce Payment Gateway API and US-based banking solutions.

Money Service Businesses Served

MSB is a multi-billion dollar industry and as a result there are multiple niches and industry segments. Money remittance has been around for centuries and with globalization, payments tehcnology has become more important than ever. MagicPay provides merchant services technology to multiple types of MSBs, including:

  • Money Transmitters (Retail & Online)
  • Check Cashers
  • Foreign Exchange Dealers
  • Money Orders
  • Traveler’s Checks
  • Other MSB types – including variety of FinTechs

We understand the MSB is a unique business, our company is adaptable to new technology and welcome innovative start-ups. We are constantly expanding to new markets and looking forward to boarding unique tehcnology MSB merchant accounts.






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Merchant & Banking Full Service Provider

Each MSB may have a different requirement or need in the merchant services world. MagicPay provides a variety of MSB payment solutions, all available through our domestic banking partners. These service include, but not limited to:

  • Debit Card Processing (Retail & E-Commerce)
  • PIN Debit Processing (Retail Card-Present Environment)
  • Retail & Online Payment Gateway API
  • Payment Terminals & PIN Pads
  • ACH & eCheck Processing
  • Multi-Location Management Dashboard
  • Bank Accounts for MSB (mandatory merchant account, cannot be sold as a standalone).

MSB Merchant Account

Underwriting Process

Understanding the MSB environment is crucial in getting your merchant account approved by the underwriting department. Upon applying to an account, you will be contacted by a designated account manager, who is experienced with the Money Service Business merchant and banking environment. The account manager will guide you through a set of qualifying questions and send over the list of documents required by underwriting to approve your merchant account. Any unapplicable documents on the required list would be noted to underwriting and remaining supporting documents would be sent to underwriting for a thorough review and compliance.

Underwriting will check your FinCEN registration, Business License, BSA & AML policies and other regulatory paperwork. This process is expected to take 2-3 weeks. The account manager will be with you every step of the way, to answer any potential questions and guide you through the underwriting process. Once approved, your payment gateway and/or payment terminals would be available for use. Our merchant onboarding team will contact you to answer any tehcnical questions and provide terminal / payment gateway training.

Integration & Compatibility

Seamless integration to your favorite payment gateways and software providers. PCI Compliant Payments API ensuring FinCEN, BSA & AML compliance. Mobile SDK for your iOS and Android MSB platform.

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Innovative Payments API

MagicPay provides a smart, innovative and user-friendly payment gateway interface that promotes seamless payments flow and transactional data. The payment gateway supports virtual terminal, Direct Post API, Third Party API for 3D Transactions and a variety of AVS and CVV verification rules.

Additionally, the gateway allows multi-user support with permissible functions availability for admin quick user setup and control. The gateway is built with strict PCI Compliance in mind and seamless user experience. On top of that, the gateway is built to adapt to your environment and can support Card-Present, MOTO & E-Commerce payments.

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